0Investors Gain N130.01bn as NGXASI Advances by 0.54%; Overnight Rate Closed Flat at 16.50%; BDC Depreciates to 805
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market closed positive as the key market indicator advanced by 238.69bps amid negative market breadth
The NGX All-Share Index declined by 0.54% to close at 44,046.94 basis points as against 0.02% loss recorded previously to close at 43,808.25 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N130.01bn loss.
YTD, the NGXASI Stands at +3.11%
The total volume traded advanced by 54.10% to close at 159.44m, valued at N2.86bn and traded in 3,039 deals. FIDELITYBK was the most traded stock by volume with 27.95m units traded while AIRTELAFRI was also the most traded stock by value which is put at N626.62m
Sectoral performance was broadly positive as thirteen (13) NGX sector index closed northward, three (3) closed southward while two (2) closed flat. The NGXAFRBVI index advanced by 5.03% to top the gainers chart while the NGX Oil and Gas index dipped by 0.35% to top the losers’ chart.
Dangote index closed flat at 125.00 basis points as the Elumelu index declined by 0.16% to close at 106.29 basis points.
At the close of trading, market recorded 20 gainers to 22 losers and 59 unchanged. CORNERST topped the list of gainers while ETERNA topped the list of losers.
Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.03x.
Volume and Value Contribution
FIDELITYBK led the volume’s chart with 17.53% contribution and closely followed by GTCO and ZENITHBANK
AIRTELAFRI tops the value’s chart with 21.90% contribution and closely followed by MTNN and GTCO
NGX Earnings Summary
No Financial statement was released on the NGX Exchange today.
NGX Corporate News
No Corporate News was released on the NGX Exchange today
1.2 NASD OTC Exchange – Unlisted Equities
The NASD market index closed flat at 713.10 basis points as against flat position recorded previously to close at 713.10 basis points
The total volume traded closed flat at 110,999 units valued at N9.32m and traded in 12 deals.
At the close of trading, NASD OTC market recorded zero (0) gainer(s) to zero (0) loser(s)
NASD Earnings Summary
No Financial statement was released on the NASD OTC Exchange today.
NASD Corporate News
No Corporate News was released on the NASD OTC Exchange today.
1.3 Global Indices
On the global scene, the Argentina MerVal Index leads the top five gainers with 0.72% gain while the USA Nasdaq Index tops the top three losers with 1.49% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the Egypt EGX 70 EWI Index tops the top five gainers with 2.83% gain while the South Africa Financial 15 Index tops the top five losers with 1.86% loss as of 4pm Nigerian Time
- BONDS AND FIXED INCOME MARKETS
2.1 Debt Market Size
The FMDQ Debt Market Size was not available as at the time of writing this report.
2.2 Overnight and Open Repo (OPR)
The Overnight lending rate expanded by 0.67% to close at 16.50% while the Open Repo (OPR) rate also expanded by 0.84% to close at 16.17%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI closed flat at 210.37 basis points
3.2 AFEX Commodity Prices
Paddy rice grew by 9.76% to top the gainers chart while there were no losers as 3 closed flat.
3.3 Global Commodity Prices
Gold recorded 0.30% loss while Silver appreciated by 0.05% as of 09:39 NY time
In the energy market, Brent declined by 1.56% while WTI also declined by 2.11% as of 09:48 AM Central Daylight Time (CDT)
- CURRENCY/ FX M7ARKET
The naira at the I&E FX Window closed flat at N446.67/USD while the NAFEX rate depreciated by 0.02% to close at N444.50/USD
Multiverse Plc Declares N120.29m PAT in Q3 2022 Results, (SP: N4.25k)
Multiverse Plc released its Q3 2022 Unaudited results for the period ended September 30th, 2022.
Key Highlights
- Revenue grew by 193.9% from N137.08m to N402.87m.
- Profit before tax stood at N120.29m
- Profit after tax stood at N120.29m
- Share Price Currently Stands at N4.25k
Headline Inflation Increases by 21.09% YoY in October 2022 as Food Inflation Rises by 23.72%
– In October 2022, on a year–on–year basis, the headline inflation rate was 21.09%. This was 5.09% points higher compared to the rate recorded in October 2021, which was 15.99%. This shows that the general price level for the headline inflation rate increased in October 2022 when compared to the same month in the preceding year (i.e., October 2021) by 5.09%. Source NBS Read More
Fuel Subsidy to End in 2023 – Finance Minister
– The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government will do away with petroleum subsidy by June 2023. Ahmed said this on Tuesday in Abuja during a press conference to mark the end of the 28th National Economic Summit. Source Punch Read More
IMF: CBN’s Financing of Fiscal Deficit Complicates Fight Against inflation
– The International Monetary Fund (IMF) says the Central Bank of Nigeria’s financing of the country’s fiscal deficit complicates its fight against inflation. Source TheCable Read More
Biggest Devaluation in Six Years May Be on the Cards for Nigerian Currency
– Africa’s largest economy is expected to devalue its currency after elections in February by the steepest margin in six years to align it with market perceptions, according to a survey of investors and analysts. Source Bloomberg Read More
The Markets in Review: The Importance of Total Equity Returns – Coronation Research
– This is not a good time for the equity market, with the NGX All-Share Index up just 2.93% year-to-date. Yet the total equity return, which is calculated by adding dividends reinvested, is 7.53% year-to-date. Over the long-term reinvesting dividends has been proven to significantly enhance equity returns. Source Coronation Research Read More
A Marked Rise in FX Utilisation in Q2 2022
– Data from the CBN shows that the total utilisation of foreign exchange (fx) by various sectors of the economy increased by 21% q/q and 64% y/y to USD8.3bn in Q2 ’22. The increase is mostly attributable to a substantial rise in fx usage for invisibles which climbed to USD3.7bn from USD2.5bn the previous quarter. Source FBNQuest Read More
Currency Redesign: Currency in Circulation Increased MoM by 0.56% toN3.23trn in September 2022
– The Central Bank of Nigeria (CBN) in a recent press release noted that there has been positive response from the public to the naira redesign agenda through increased currency deposits across banks and other financial institutions. Source CSL Research Read More
CEO Remuneration 2022: The Risk and Reward System of Nigerian CEOs in 2021
– High inflation predates the post-pandemic in Nigeria. It has been a significant concern for Nigeria’s business environment for some years. Howbeit, increased expansionary policies to moderate the effects of the pandemic heightened the concern around rising inflation and became the primary economic theme in 2021. Source Proshare Research Read More
Hope Payment Service Bank Appoints Ogechi Chinwe Altraide as MD/CEO
– The Board of Directors of Hope Payment Service Bank Ltd has announced the appointment of Mrs. Ogechi Chinwe Altraide as Managing Director & Chief Executive Officer. The appointment is subject to approval of the Central Bank of Nigeria (CBN). Source Hope PSB Read More
FG Disagrees as Court Stops Nigeria Air Deal
– The Federal High Court, Lagos Judicial Division, on Tuesday, issued an order of interim injunction restraining the Federal Government from executing the proposed establishment of the national carrier – Nigeria Air. Source Punch Read More
Oil Prices Rise Over 1% On News of Druzhba Oil Pipeline Disruption
– Oil prices rose on Tuesday more than 1% after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Source Reuters Read More
Technology: Making Investors Smarter Amidst Economic Uncertainty
– Modern technological advancements continue to cause disruptions in our world, impacting nearly all areas of endeavour as we discover diverse use cases. Just like every other aspect of life, the role of technology in investing cannot be over-emphasized. Source CardinalStone Read More
Vast Majority of Retail Investors in Bitcoin Lost Money, BIS Says
– A study of how retail investors use cryptocurrency exchange apps suggests about three-quarters have lost money on Bitcoin, according to the Bank for International Settlements. Source Bloomberg Read More
IFC Starts VC Platform to Fund Tech Startups in Africa, Pakistan
– The World Bank Group’s private-sector arm said it will invest $225 million in a venture-capital program to fund technology startups in Africa and the Middle East. Source Bloomberg Read More
NCC Will Ensure Timely Deployment of Additional 5G Spectrum, Says Danbatta
– Umar Danbatta, executive vice-chairman of the Nigerian communications commission (NCC), says the commission will ensure timely deployment of the second spectrum bands for 5G. Source TheCable Read More
15-year-old Otong Usongobong Paul is Winner of UBA Foundation’s NEC 2022
– It was all joy and palpable excitement as 15-year-old Usongobong Paul, from Akwa-Ibom State, emerged the overall winner of the 2022 Edition of the UBA Foundation’s annual National Essay Competition (NEC). Now in its 12th year, UBA Foundation’s Essay competition has positively impacted hundreds of students across Africa. Source UBA Read More
